Address1100 Summer Street, Stamford, CT 06905

Phone203-359-2047

Stamford, CT business law attorney

Although more and more companies are conducting business virtually these days, the location you choose for your business can have significant consequences. Your location has the potential to literally make or break your business. Choosing the wrong location can lead to financial problems, legal headaches, and fewer customers. However, many entrepreneurs and new business owners underestimate the importance of choosing the right business location. When deciding where to headquarter your startup, make sure to consider the following tips.

Focus on Increasing Customer Accessibility

You have probably already spent a great deal of time thinking about how to price your products and services. However, have you considered how accessibility could impact your profitability? Many shoppers are willing to pay slightly higher prices if a store or business is easy to get to or adjacent to an establishment they are already planning to visit. When choosing a location, consider how many of your customers will arrive on foot versus the number of customers who will drive. Make sure not to forget about parking concerns.

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Norwalk business attorney

Business ownership has numerous perks. You get to “be your own boss” and manage the business exactly the way you want. However, becoming a business owner also involves substantial risk. Studies show that about 20 percent of small businesses fail within a year. Many of the common mistakes business owners make can have substantial legal consequences. The best way to lessen the chances of your business failing is to avoid these crucial errors. In addition, an experienced business attorney can help you with the legal aspect of owning your own company.

Business Mistakes You Should Avoid

As the old adage goes, “Failing to plan is planning to fail.” If you are interested in starting your own business or buying an existing business, educating yourself about the legal steps involved in business ownership is crucial. Some of the most common mistakes new business owners make are also some of the most consequential.

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Fairfield County business law attorney employee handbook

If you are a small business owner, you probably have a close relationship with your employees. You may believe that your employees know what is required of them and will continue to meet your expectations – even if those expectations have only been implied. Unfortunately, this type of thinking has gotten some business owners into hot water. Although you are likely overwhelmed with concerns that appear to be more immediate, the importance of creating a comprehensive employee handbook cannot be overstated. By putting your expectations, procedures, and policies in writing, you reduce your vulnerability to legal actions and increase your team’s productivity.

Protecting Your Business Against Lawsuits

As your business grows, you will likely hire more and more employees. It is certainly possible that some of these employees will not end up being a good fit for your business. This is one important reason why you need clear policies regarding employee expectations, disciplinary actions, and termination. If you do not have a consistent method for evaluating employees and recording any problems, you could be accused of discrimination in a wrongful termination lawsuit. Furthermore, creating these policies helps employees understand exactly what is expected of them. The key is to make sure you create policies that are realistic and achievable. Consistently abide by the policies you have put in place and do not forget to record any disciplinary actions you are taking.

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Fairfield County business law attorney breach of contract

Business contracts are an integral part of a successful entrepreneurial career. Whether it is a purchase order, bill of sale, employment contract, lease agreement, or another type of contract, knowing how and when to use contracts is a vital skill. When a party subject to a contract violates any of the contract’s terms and conditions, the violating party may face a breach of contract claim. The party wronged by the violation may be entitled to damages. As a small business owner, writing clear and effective contracts with help from an experienced business lawyer is one of the best ways to avoid facing liability for breach of contract.  

Failure to Fulfill the Requirements of a Contract

There are several different types of contract breaches. A minor breach of contract is one that involves non-fulfillment of a minor detail in the contract. These breaches do not impact the overall purpose of the contract and are typically able to be resolved outside of court. An anticipatory breach or anticipatory repudiation occurs when the breaching party notifies the non-breaching party that it will not be satisfying the terms of the contract. A material breach of contract is one that is so significant that it prevents the parties from being able to execute the responsibilities contained in the contract. Anticipatory breaches and material breaches often lead to legal actions.

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Norwalk business law attorney succession

If you own a family business, you may not have ever given much thought to succession planning. You may intend to pass the business down to your child, grandchild, niece or nephew, or another relative, so you assumed that succession planning was not necessary. While handing down a business to a loved one may seem like a straightforward process, there are countless issues that can arise that will hinder your company’s growth and continued success. The best way to ensure that the transition goes as smoothly as possible is to create a detailed succession plan well in advance of your successor taking over.

It Is Never Too Soon to Start

You may not be planning to retire or transfer ownership of your business for several years or more. However, it is never too soon to start building your succession plan. As your business evolves and grows, your succession plan can be modified accordingly. Keeping the eventual transition in mind helps ensure that you are currently making choices that will allow the business to flourish under new owners in the future. Including your family in the business succession planning process can help ensure that everyone is on the same page and prevent disputes in the future.  

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